Far West Mining Ltd.
TSX : FWM

Far West Mining Ltd.

January 22, 2007 14:09 ET

Far West Mining Ltd.: Drilling on Santo Domingo Property in Chile Continues to Expand Near-Surface Oxide Copper Zone at Estrellita

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 22, 2007) - Far West Mining Ltd. (TSX:FWM) is pleased to report the assay results for 21 drill holes completed at Estrellita and 6 at the IRIS zone on the Company's Santo Domingo property in Chile. Drilling expands the known zone of copper mineralization at Estrellita to cover an area of approximately 300m by 800m.

Estrellita

In November and December 2006, the Company completed 5 diamond drill holes and 16 reverse circulation (RC) drill holes at Estrellita that were designed to expand the known mineralization and fill in gaps between previous drill holes.

Drill holes 219D, 225D, and 227 were drilled close to the Estrellita mine workings and tested for continuation of mineralization between previous drill holes. All three holes are well mineralized with the best intercept grading 1.05% Cu over 24m in hole 219D bracketing mine workings of 8m thickness.

Drill holes 4a3-212D, 228, 234 and 235 were drilled to the south west of the Estrellita mine workings Drill hole 212D was angled 50 degrees towards the south and intersected two narrow high grade zones of mineralization. Holes 228, 234 and 235 intersected near surface mineralization ranging from 28m-36m in thickness and grading 0.60% to 1.57% Cu and are comparable to earlier holes drilled at Estrellita. Drill holes 234 and 235 suggest that mineralization remains open to the southwest.

Drill holes 226, 229D, 230, 233, 240 and 241 were drilled to the north of an apparent east west fault that has down-dropped the prospective geology by at least 50 metres. All six drill holes intersected a mineralized zone of varying thickness from 16m to 62m starting at depths between 122m and 158m. The best intersection was obtained in hole 230 that returned 62m of 0.75% Cu commencing at 144m and included 22m grading 1.34% Cu at the top of the interval.

The holes drilled to the north of the mineralized zone outlined on the Estrellita map below are situated in different fault blocks from that which hosts the Estrellita deposit.

The mineralized zone at Estrellita is now defined by 55 drill holes at 50m spacing and covers an area of approximately 800m by 300m. A large portion of the defined zone is close to surface and contains oxide and mixed oxide/sulfide copper mineralization. The Estrellita mineralized zone remains open to the west, south and east. The Company will conduct additional drilling this year to determine the full extent of mineralization at Estrellita.

Drill results from Estrellita are tabled below:



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Drill Angle From To Interval
hole number (degrees) (metres) (metres) (metres) Grade (% Cu)
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4a3-212D -50 41 45 4 1.22
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177 185 8 2.69
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4a3-219D -45 18 24 6 1.14
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24 32 8 mine workings
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32 50 18 1.02
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4a3-225D -45 10 15 5 1.78
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15 25 10 mine workings
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30 48 18 0.65
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4a3-226 -90 158 194 36 0.49
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4a3-227 -90 56 130 74 0.48
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4a3-228 -90 6 8 2 0.82
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8 12 4 mine workings
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12 42 30 1.57
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4a3-229D -90 130 138 8 0.40
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165 173 8 0.44
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4a3-230 -90 144 206 62 0.75
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including 144 166 22 1.34
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4a3-233 -90 122 148 26 0.49
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4a3-234 -90 10 38 28 0.60
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including 24 38 14 0.88
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4a3-235 -90 24 60 36 0.78
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including 46 60 14 1.45
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4a3-237 -90 300 334 34 0.44
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4a3-239 -90 278 310 32 0.46
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4a3-240 -90 138 154 16 0.43
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4a3-241 -90 128 150 22 0.50
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The intercepts reported for the vertical holes drilled are believed to be close to true width as the orientation of the mineralized zone at Estrellita appears to be more or less horizontal. Diamond drill holes 212D, 219D and 225D are angled to the south and the true widths of the intercepts are approximately 70% of the widths in the table.

To view 'Falcon™ gravity image showing the location of Far West drill holes at the Estrellita property', please click on the following: http://www.ccnmatthews.com/docs/fwm1.jpg

Iris Zone (ENAMI)

During the construction of drill roads and pads on the slopes to the north of the Estrellita mine workings, the Company drilled 13 exploration drill holes on the Iris Zone (ENAMI). The drill holes were placed to the north and northwest of the Iris mine workings on a 100m grid to test for extensions of mineralization outlined by holes previously drilled. The results for seven of the 13 holes were reported in the December 14 news release and the balance is tabled below.

Drill holes 218, 220 and 222 were drilled to the west and northwest of the Iris mine workings and intercepted andesitic volcanics with iron-rich mantos void of significant copper mineralization.

Drill holes 4a3-210, 211 and 216 were drilled to the northeast of the Iris mine workings and intercepted iron mantos between 40m and 100m depth. The mantos, although mainly barren, contain some copper mineralization and extend the Iris mineralized zone to the south. Additional drilling will be carried out to determine the full extent of the Iris zone towards the south and east.

Drill results from the Iris Zone are tabled below:



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Drill Angle From To Interval
hole number (degrees) (metres) (metres) (metres) Grade (% Cu)
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4a3-210 -90 42 64 22 0.37
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76 86 10 0.64
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4a3-211 -90 12 16 4 0.69
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168 174 6 0.71
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4a3-216 -90 26 36 10 0.50
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152 158 6 0.52
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4a3-220 -90 202 224 22 0.30
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4a3-222 -90 44 56 12 0.45
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128 140 12 0.76
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To view 'Falcon™ gravity image showing the location of Far West drill holes at the IRIS zone', please click on the following link: http://www.ccnmatthews.com/docs/fwm2.jpg

Assaying Procedures

A QAQC (quality assurance, quality control) program conducted by Far West consisted of the introduction of standard, duplicate, and blank samples into the sample sequence at regular intervals. Standard samples were prepared by CDN Resource Laboratories Ltd. of Delta, B.C.

Samples were subjected to aqua regia digestion and analysed for 27 elements by ICP-MS (induced coupled plasma mass spectrometry). Atomic absorption was used to determine copper values exceeding 10,000 ppm. Gold was analyzed by fire assay with atomic absorption finish using a 30g pulverized sample.

The in-house qualified persons responsible for the Projects are Robert E. Hindson, P. Eng., Chief Executive Officer, President and a director of Far West, and J. Patricio Varas, P. Geo. Vice-President and a director of Far West, both of whom have reviewed and approved the contents of this news release.

Far West Mining Ltd. is an international mineral exploration company engaged in the evaluation, acquisition, exploration and development of mining properties. The company has current operations in Chile (100% Far West) as well as in Argentina and Australia in collaboration with its strategic alliance exploration partner BHP Billiton.

FAR WEST MINING LTD.

Robert E. Hindson, P.Eng., President and C.E.O.

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans" "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The news release uses the term "indicated resource". The Company advises investors that although this term is recognized and required by Canadian securities regulations (under National Instrument 43-101 "Standards of Disclosure for Mineral Projects"), the US Securities and Exchange Commission does not recognize this term. Investors are cautioned not to assume that any part of or all of the mineral deposits in these categories will ever be converted into reserves.

For further information investors should review the Company's filings that are available at www.sedar.com.

The TSX does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Far West Mining Ltd.
    Patricio Varas
    Vice President
    (604) 602-9144
    or
    Far West Mining Ltd.
    Lars Beggerow
    Chief Geologist
    (604) 602-9144
    Website: www.farwestmining.com